Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
INDEX
2. Objectives of project 16
3. Company profile 18
4. Marketing mix 34
5. Research methodology 45
8. Conclusion 61
9. Bibliography 63
10.Annexure 65
1
1.
Introduction
2
Marketing in Pharmaceutical Industry
In pharmaceutical marketing, goods (i.e. medicines) are not sold directly to consumer
but through Physicians / doctors who prescribe the drugs to the patient. Physicians are
perhaps the most important players in pharmaceutical sales. They write the prescriptions that
determine which drugs will be used for the patient. Influencing the physician is key to
pharmaceutical sales. Ethical Marketing involves influencing the physician. In Ethical
marketing importance is given to prescription selling, target customer here is physician who
is qualifies enough to decide which medicine is better for his patient.
3
2. OTC Marketing:
The OTC stands for 'Over the Counter', which means the direct selling from the chemist
counter without any suggestion or the prescription of the physician. The drugs included major
in this category are the, Analgesics (Pain Killers) Antipyretic (For Fever.) Most of the patients
to save physicians fees do this type of treatment but it is ethically wrong because they don't
understands the MOA (Mechanism of Action) and also the side effects of that drug.
More than 10,000 sales force-Large Scale Organisation Less 1,000 sales force- Small Scale
Organisation
(Sales representative) meet to the physicians regularly providing information and free drug
samples according to the companies policy to the physicians. This is still the approach today.
As the competition is becoming stiff and due to entrance of
new players in pharmaceutical market, making call to physicians is not sufficient. Today each
and every pharmaceutical company is giving importance of the aggressive marketing along
with the Productive call in the doctors chamber of the medicinal product.
Aggressive marketing of the means providing the proper services to the doctor, chemist &
also take care of patients. Pharmaceutical marketing is stand on four pillars of, Doctor,
Chemist, Distributor, & also on Patients.
1) Physician:-
Physician is the person who prescribes the drug and is well aware of the medicinal value of
the product.
2) Retailers.:-
4
Retailer who makes availability of the prescribing product & also providing the guidance in
the proper selection of doctor and about molecule to promote in doctor chamber.
3) Distributors :-
Distributor makes the proper availability of stock from company for the proper distribution in
the territory chemist and helps in selection of area or town to be covered.
4) Patients :-
Patients these are the direct and end users of the products. So these are so important.
Company will provide the medicines at the most economical rates for patient' Conveniences.
Pharmaceutical Company
D C D P
O H I A
C E S T
T
M T I
O
I R E
R
S I N
S
T B T
/
/ U
P
R T
H
E O
Y
S T R
I A
A I
N L
R
1.3 Promotion of Pharmaceutical Product:
The process of convincing the doctor also providing the information to retailer about the
5
product and doctors promise for product and taking order and give to the stockiest make
product available for the patient convenience is major duty of the medical.
Before starting the main project it is necessary to yet analytical with certain concepts so that
it helps to get better understanding of the project following are some of the concept used in
the project.
1) PHARMACY:
Pharmacy is defined as "The art of preparing and dispensing medicines and embodies the
knowledge and skill requisite to carry them out in practice."
2) DRUG:
According to WHO "A drug is any substance or products used or intended to be used to
modify or explore physoplogical system or pathological state for the benefits of the
recipient."
6
3) BULKDRUG:
"Bulk drugs are active or inactive ingredients used in the manufacture of finished dosages
drugs products".
4) COMPOUNDING:
Compounding is defined as "Produce a dosage form of drug other than that manipulation that
is provided for in the directions for use on the labelling of the approved drug product, for
example, the reconstitution of a sterile powder with sterile water for injection.
5) PHARMACIST:
The Person licensees and have operating in conformity and dispensing in response to a valid
prescription.
Since independence Pharma industry is contributing towards Indian economy. But with the
major shift in the economy policy i.e. 1991 they are contributing even more than before form
a long period of India Pharmaceutical companies are giving a good contribution through
Ayurved, Homeopathy, allopathic etc. After independence public sector and private sector
Pharmaceuticals companies were the main source of medicines every year for its people.
Now Pharma companies are growing year after year.
Previously the Pharma field was relatively unknown to common people, now with the
progress in the pharmaceutical field people are paying more attention towards this field,
because of the lucrative offering made by the Pharma companies. The change this field can
be gauged from the education in the field of pharmacy. Now many student are diverted
towards the pharmaceutical field of pharmacy. Now many students are diverted towards the
pharmaceutical field and the government is also supporting by way of providing quality
education and other facilities and by opening new colleges that this field grows by leaps and
bounds.
Future in this field has become very bright. It is under constant focus of the people. Now the
Indians are giving more attention towards this field. Since India has second largest population
7
of the world there will be steady increase in demand for the pharmaceutical products.
In India per capital expenditure III drug is very low as compared to the international
standards. India as per capital expenditure of US$-3 against US$-4l2 in Japan and US$-222
in Germany and US#-91 in US. This is not very surprising considering the low literacy level
in India. With improvement in literacy level and health consciousness, the consumption of
pharmaceutical product is bound to increase.
In past 2005 scenario companies will enjoy the benefit for launching the specialized product
without fearing about the benefit for launching the specialized product. The need for the
specialized product is expected to increase with the changing demographic and disease
profile. This is due to increase in income level and changing lifestyle and improvement in
health infrastructure. The market or the companies will grow as they will enter that area to
wide extent. At present there exist wide disparity in terms of medication and health
infrastructure of the sectors. In urban areas nearly 26% of the population is yet to get the
maximum medical coverage to the extent of 67% in the rural sector, which forms 76% of the
population. Population is getting increased gradually, meaning immense potential for these
companies. According to a study the annual pharmaceutical consumption in India is expected
to increase US$ 13.3 billion by 2006, which was just US$ 2.8 billion in the year 1996.
8
In classification various techniques are used to promote and sell a pharmaceutical such as TV
advertising, distributing broachers, regular visits by medical representative, gift and sample
distribution. An ethical drug first has to be approved and recommended by a physician and
then sold to the patient or consumer, through medical stores, non ethical or patented products
can be directly sold to the consumer through persuasive advertising through various media
such as newspaper, magazine, radio or TV.
It can be sold through point of sale advertising which means poster in the medical shop or
window displays, but the proportion of non ethical or patented products is hardly about 20%
of the total output of drugs and pharmaceutical products.
Hence an indirect method, a round about way of promotion and distribution has been adopted
in pharmaceutical marketing. It can be shown diagrammatically as given under.
1.CHART
Physicia
n or
Doctors
Patient / Medical
Direct Executive
Chemist /
Retailer
9
It has been observed that about 15% to 20% products are sold directly to the
institutional customers such as hospitals, nursing homes, etc and above 80% sale is individual
customer on the basis of prescriptionn given to individual and submitted to the druggist.
Hence the primary and most important task for the medical representative is to pay sales calls
to the physicians. He is expected to pay sales calls of about 12 or more physicians everyday
about 25 days a month. He has to plan his sales calls carefully, for which he has to make a
tentative list of physicians in his history.
Company
Central Depot
Retailers
Patients
CHART NO.2
Managing Director
10
Production Marketing Sales Finance
Sale Sale
Supervisor Supervisor
MR MR MR MR MR MR
CHART NO. 3
11
2.
OBJECTIVES
OF
PROJECT
12
Research Objectives:
Scope of study:
The study is related with District. In the project work there is enumerate the customer
behaviour and the market scenario of the pharmaceutical products and also the factors the
marketing of the pharmaceuticals.
13
3.
Company profile
14
Company Profile
The Company was launched in year '1995' with a goal to serve the suffering humanity and to
reach out even to those corners of the country where nobody had ventured before. From a
modest beginning in 1995, MANKIND was able to achieve, a turnover of "550 corer" (latest
achieving figures).
15
Spotli
ght
Mankind Pharma is one of the fastest growing domestic pharmaceutical companies, making a
strong impact on the Indian pharma scene for the past decade since it came into
existence.Sapna Dogra finds more
Impressive growth
The story of Mankind Pharma is one of inspiration, persistence and perseverance. From a
humble beginning in 1995 with a capital investment of about Rs 50 lakh, Mankind was able
to achieve a turnover of over Rs 300 crore in the year 2005 from a modest Rs 3.5 crore in the
year 1995. With a market share of about 1.75 percent of the Rs 25,000 crore domestic pharma
16
market, Mankind has a strong presence in antibiotics, antifungals, nutritionals,
gastrointestinals, NSAIDs, antihelmintics and ED categories. They have many brands that
ranked number one like Zenflox, Nuforce, Nurokind and Manforce. Other top brands include
Bandy, Cefakind, Fynal, Mahacef, Omidom and Sparkind. Mahacef ranked first among the
top launches of the last two years.
When it started in 1995, Mankind had a presence in just two states. Today, Mankind covers
the entire length and breadth of India. The company focuses on the grassroots by tapping
small towns and rural areas through its team of about 1,900 medical representatives. It is
doing fairly well even in cities like Delhi, Chennai, Mumbai.
The company is aggressively expanding its domestic sales through its existing divisions,
namely Mankind, Discovery Mankind and Life Star, as a business strategy. For instance, the
Mankind division has a mixed bag of cardiovascular and diabetic products. Mankind’s
domestic formulations business is expected to grow at a whopping 40 percent.
The Discovery Mankind division was launched about two-and-a-half years ago. With a field
force of 650 medical representatives and managers, already quite a few brands of Discovery
Mankind have reached to the top five positions in their respective segments. They are
Zenotin, Sparkind, Nobel Gel, Nuforce-3 Kit, Fynal, and Mahacef. The relatively new Life
Star division is yet another sister concern of Mankind Pharma, which has inducted around
100 field people so far. The focus of Life Star division of Mankind is on ophthalmology and
the dermal segment. Very soon, it will be entering into anti-malarial segment.
17
Driving force
What is the secret of such stupendous growth? "We believe in sharing our fortunes within the
company amongst all employees," claims Juneja. The incentive policy is such that it makes
our people work hard, adds Dr Sanjay Kaul, GM, Project Management Team. "We always
think about the patients, the consumers and hence we have always lowered the price bands,"
informs Juneja, who also wants to build a charitable hospital in Meerut for the
underprivileged.
18
2B] Phases of Launching of Company:
1995 :
Launched Uttar Pradesh and Madhya Pradesh with 53 Medical Representatives and
Managers Achieved a turnover of 3.8 crores in the first year.
1996:
Launched Haryana and Punjab and the field force increased to 90. Ciprozol and
Noragyl (ranked 1 st)* were launched. A turnover of 8.2 crores was achieved with 117%
growth.
1997:
With a field force of 140, company introduced Cope, Nobel and Zenflox, which turned
out to be the leading brands. Zenflox became No. 1 * brand. Turnover increased to 15 crores
with a growth of 77%.
1998:
Turnover in this year was 24 crores with 61 % growth and field force grew to 180.
Ranidom (ranked 2nd)* was launched.
1999:
Field force increased to 250 with launch of Bihar. Turnover was 31 crores with a growth
of 31 % Zenotin (ranked 2nd)* was launched.
2000:
Achieved a milestone of 50 crores with a growth of 60%. Orissa and Maharashtra were
launched and field force increased to 308. Omidon (ranked 2nd)*, Sparkind (ranked 3rd)* and
Manforce (ranked 1 st)* were launched.
19
2001:
Entered Andhra Pradesh, turnover reached to 67 crores at a growth of 34% and field force
increased to 394.
2002:
Major achievement of the year was launching of Discovery Mankind. Field force grew to
600 and turnover touched 85 crores with 27% growth. Bandy (ranked 2lld)* and Cefakind
(ranked 2lld)* were launched.
2003:
Achieved a turnover of 150 crores and growth of 77%. Field force increased to 950.
Antihypertensive drugs were introduced. Launched Mahacef (ranked 3rd)* and Nurokind
(ranked 1 st)*.
2004:
Turnover jumped to 263 cores with 75% growth and the field force increased to 1660 in
number. Moxikind-CV was successfully launched at a very economical price. *(ORG-IMS,
Retail Store Audit, and March 2005)
2005:
Celebrated a 'Decade of trust' with medical fraternity. Launched a new sister concern
Lifestar Pharma Pvt. Ltd. Group turnover touched Rs. 350 Crore & field force grew to 2600.
Won "Indian Express Pharma Pulse Award" for best overall performance.
20
2C] Achivements of the company:
Seven brands Ranked No. 1 and around 15 brands in top 5 positions (as per ORG-IMS
STOCKIST SECONDARY AUDIT, March 2007) form the core of the strategic brands of the
company.
Zenflox Ofloxacin 1
Nuforce Fluconazole 1
Gatikind Gatifloxacin 1
Zenflox-OZ Ofloxacin+Ornidazole 1
bacillus
Omidom Omeprazole 2
Bandy Albendazole 2
Bomikind Ondansetron 2
Vomikind Ondansetron 2
Unwanted Mifepristone 4
Vertistar Betahistine 5
21
The company has outperformed the growth of the Pharma industry in India by growing at the
rate of more than 66% year after year and ranking among the top 10 most aggressive in new
launches Pharma companies in India (ORG - IMS, March 2005). From a field force of 53 in
1995, today the total strength has reached to 2600 Medical Representatives and Managers
working in almost all parts of the country.
The company has well defined processes of Production, Quality control, Distribution,
Marketing, Training and Human Resource Development. MANKIND has a very strong
market presence in Antibiotics, Antifungals, Gastrointestinals, NSAIDs, Anthelmintics and
Erectile Dysfunction categories with many brands ranked no. I such per (ORG-IMS, Retail
Audit 2005). Mankind says their strength lies in our people.
Won Indian Pharma Pulse Award for overall performance in the year 2004-2005. To meet the
increased demand of the products MANKIND is setting up a state of the art Inject able
manufacturing unit and a world class R & D centre in Paonta Sahib (H.P). The company has
already purchased 60,000 Sq. mts. Land and shall be investing Rs. 70 crore to set up the
facilities which shall be operational by Oct' 2006.
The manufacturing unit in Paonta Sahib shall enjoy the benefits of excise exemption. Another
unit under the banner of PHARMA FORCE having capsule and tablet manufacturing
facilities, shall be operational in Paonta Sahib by June' 2005.
22
2.D] Network of Company:
From two states in 1995, Mankind today covers the entire length and breadth of India.
Our products are available across the country. Including the remote pockets serviced by 33 C
& F agents & a comprehensive network of 3500 stockiest (Latest figure).
2.E] Company's Vision:
Company's Vision is to become one of the most admired Pharma companies in India. And by
year 2010 we want to be among the top 10 pharmaceutical companies of India.
2.F] company's Mission:
Vision of the company is very simple and distinct. The company's mission is "Serve the
Humanity".
2.G] Marketing strategy adopted by Mankind pharma :
Marketing is the act or process of buying and selling in a market. According to Peter Drucker,
Marketing is : "Marketing and innovation are the two chief functions of business. You get
paid for creating a customer, which is marketing. And you get paid for creating a new
dimension of performance, which is innovation. Everything else is a cost center : "Marketing
is commercial functions involved in transferring goods from producer to consumer. The
American Marketing Association suggests that Marketing is "the process of planning and
executing the pricing, promotion, and distribution of goods, ideas, and services to create
exchanges that satisfy individual and organizational goals."
Marketing Strategies:
The strategies define general approaches you will take to meet your objective. To be most
effective, marketing strategies should be integrated into marketing plan (which in turn should
be part of the business plan). By integrating strategies into overall company plans, better
business objectives can be achieved. Marketing strategies are the result of a meticulous
market analysis.
23
1.Company has framed the strategy keeping III core the prescribers.
2.Company has also framed strategy keeping III mind the retailers also.
3.Company has developed strategy keeping in view the Sales force that is the important
weapon of the company.
4.Company has given prime importance to the patient I.e. direct customer by making
economy in the product.
Physicians are the target customers for the company; hence the company is always
trying to develop the strategy so that there is increase in the physicians.
* Conduction survey.
* Sampling
* Regular follow-ups
* Sponsorships.
24
"A Quality market survey is the key for the success".
Company always follows this principle strictly. Company has its own format of
survey, which has to be filled at chemist retailer counter.
* To check the existence of the competitor product & if exist what is the
position of the competitor's product.
Positioning means placement of product in the market by identifying the needs of the
customer. By Positioning the product the company is able to more precisely meet the needs of
more customers and consequently to gain a higher overall level of share or profit from a
market. And also positioning is depending on the seasonal requirements. In Pharma
marketing the positioning of the product is done the basis of the indication in which the drug
has the medicinal values and accordingly the product is promoted. Mankind Pharma also
follows the same principle. However they have been categorized depending upon the benefits
of the product in the disease or disorder.
For example :
The drugs used in treatment of hyperacidity are categorized & Proton pumps inhibitors
and is positioned and promoted to the Gastroenterologist mainly, who are specialist in the
treatment of ulcer of stomach or intestine.
After conducting the survey and determining the potentiality of the doctors, the next step
is to meet the doctor personally and detail him the quality and benefits of the product."
Mankind Pharma always believe in Productive call."
Company appointed medical representative who perform this job by means of a visual
25
aid does the detailing of product to the doctors. Visual aid is a printed material, which
visualizes the USP's (Unique selling point of the product) and important aspects of the
product.
As the name suggest the Visual aid helps to emphasis the benefits of the product visually.
Company always tries to use the visual aid, which will magnify the benefits and USP,s of the
product effectively.
Sampling is a free distribution of the product to the doctor, so that he can ensure result of the
products. Sampling is done to the physician and to the doctors through the M.R. so that the
doctor can give the product to the patients and ensure the result of the product in the Patient.
The sampling policy of Company is quite specific.
This is another important marketing tool, which the company is using tactfully & skillfully.
Regular follow-ups means doing something special or unique which will make the doctor to
remind the product or conducting the activity that will continuously hammer the product in
the doctor's mind.
Regular follow-up mainly include sending a reminder card to the doctors, requesting the
doctor to prescribe the product. Sending reminder cards also include drafting & sending a
thanks-giving note to the doctor for extending their prescription support to the doctor.
Company always give emphasis on importance of regular follow up.
As the name suggest the Visual aid helps to emphasis the benefits of the product visually.
Company always tries to use the visual aid, which will magnify the benefits and USP,s of the
product effectively.
Sampling is a free distribution of the product to the doctor, so that he can ensure result of the
products. Sampling is done to the physician and to the doctors through the M.R. so that the
doctor can give the product to the patients and ensure the result of the product in the Patient.
The sampling policy of Company is quite specific.
This is another important marketing tool, which the company is using tactfully & skillfully.
Regular follow-ups means doing something special or unique which will make the doctor to
remind the product or conducting the activity that will continuously hammer the product in
the doctor's mind.
26
Regular follow-up mainly include sending a reminder card to the doctors, requesting the
doctor to prescribe the product. Sending reminder cards also include drafting & sending a
thanks-giving note to the doctor for extending their prescription support to the doctor.
Company always give emphasis on importance of regular follow-up. The company have
made it mandatory that, each and every medical representative should send reminder cards to
the doctors. For the doctors located at distance, Company asked the M.R. to send postcards
regularly that too hand written.
This activity is carried out by the company to meet with mission of company. Company also
arranges regular heath check-up camps are organized by company. Such type of camps serves
dual purpose for the company.
By organizing such camps company shows that they aim of creating health aware. At the
same time through such camps company promote their products to doc. Recently company
organized a BMD camp (bone Mineral Density Test Camp) with aim of determining the bone
calcium level and to promote their product "Calcikind".
Once the product is promoted to the doctor and regular follow-up is given the corn ask their
medical representative to categorize the doctors on the basis of the prescribe support per
month.
27
* Very important doctors (V.LP), generating prescription-has rupees value
2500 - 5000 per month.
General Category (G.P.) generating prescription having rupees up to 1000 - 2500 per month.
This is supplementary method adopted by the company to boost up the sell. In this method
depending upon the category of the doctors; Gifts are given as token fir gesture. Giving Gifts
gives an impression in the mind of the doctor that they are special for the company.
This IS another supplementary method adopted by the company to boost up the sell. In this
method company gives sponsorship to the doctor for the IMA conference organized.
Beside the main marketing strategy adopted by the company the company has also adopted
the other strategies which mainly includes,
In today's world medication is becoming costlier and people are looking towards economy in
medication. Mankind has very well understood this human psychology and has skilfully
developed strategy to use this psychology for marketing purpose. Mankind selling their
product at the price economic to the patient purpose behind adoption of such strategy is to
create liking in the mind of the prescribers / doctors & to create a long-term prescription
support from the medicinal professionals.
Another reason behind selling product at economic price is to influence the prescription
behaviour of the prescribers / doctors.
Chemist is also an important pillar in pharmaceutical marketing. All the efforts are in vain, if
the doctors prescribe the product but it is not available with the chemist. Mankind has
understand the importance of the chemist have in pharmaceutical marketing and has
developed separate strategy keeping in core the chemist.
28
* Giving gifts on purchase.
In this type of the marketing strategy Mankind is trying to influence the chemist
purchase behaviour.
When it started in 1995, Mankind had a presence in just two states. Today, Mankind covers
the entire length and breadth of India. The company focuses on the grassroots by tapping
small towns and rural areas through its team of about 1,900 medical representatives. It is
doing fairly well even in cities like Delhi, Chennai, Mumbai.
The company is aggressively expanding its domestic sales through its existing divisions,
namely Mankind, Discovery Mankind and Life Star, as a business strategy. For instance, the
Mankind division has a mixed bag of cardiovascular and diabetic products. Mankind’s
domestic formulations business is expected to grow at a whopping 40 percent.
The Discovery Mankind division was launched about two-and-a-half years ago. With a field
force of 650 medical representatives and managers, already quite a few brands of Discovery
Mankind have reached to the top five positions in their respective segments. They are
Zenotin, Sparkind, Nobel Gel, Nuforce-3 Kit, Fynal, and Mahacef. The relatively new Life
Star division is yet another sister concern of Mankind Pharma, which has inducted around
100 field people so far. The focus of Life Star division of Mankind is on ophthalmology and
the dermal segment. Very soon, it will be entering into anti-malarial segment.
29
4.
MARKETING MIX
30
What is Marketing?
The term marketing has changed and evolved over a period of time, today
marketing is based around providing continual benefits to the customer, these benefits will be
provided and a transactional exchange will take place.
Marketing objectives, goals and targets have to be monitored and met, competitor strategies
analysed, anticipated and exceeded. Through effective use of market and marketing research
an organisation should be able to identify the needs and wants of the customer and try to
delivers benefits that will enhance or add to the customers lifestyle, while at the same time
ensuring that the satisfaction of these needs results in a healthy turnover for the organisation.
Philip Kotler defines marketing as ‘satisfying needs and wants through an exchange
process’
Within this exchange transaction customers will only exchange what they value
(money) if they feel that their needs are being fully satisfied, clearly the greater the benefit
provided the higher transactional value an organisation can charge.
31
Marketing is a social and managerial function that attempts to create, expand and maintain a
collection of customer. A market - focused, or customer focused, organization first determines
what its potential customer desires, and then builds the product or services. Marketing theory
and practice is justified on the belief that the customer uses a product/ service has a perceived
benefit.
Marketing touches everyone's life. The American Marketing association defines marketing as
"the process of planning and executing the conception, pricing, promotion and distribution of
the ideas, goods and services to create exchanges that satisfies individual and organizational
objectives. Paul Mazur defined marketing as the creation and delivery of a standard of living
to society. Marketing is a compressive term and includes all resources and a set of activities
necessary to direct and facilitate the flow of goods from the producer to the consumer in the
process of distribution
By definition, then, a business that focuses on a niche market is addressing a need for a
product or service that is not being addressed by mainstream providers. A niche market may
be thought of as a narrowly defined group of potential customers.
A distinct niche market usually evolves when a potential demand for a product or service is
not met by any supply, or when a new demand arises due to changes in society, technology, or
the general environment.
Niche market ventures may become profitable even though they are by nature small in
comparison to the mainstream marketplace, or monopoly. due to the benefits of specialization
and focus on small identifiable market segments; even without the benefit of economy of
scale. Niche markets may be ignored or discounted by large businesses due to what they
consider to be small potential; this in turn is part of the process that makes the niche market
available to smaller businesses. The key to capitalizing on a niche market is to find or
32
develop a market niche that has customers who are accessible, that is growing fast enough,
and that is not owned by one established vendor already.
Etymology
The term "niche" (pronounced nich, nēsh, or nish) was first used by ecologists to
describe a species' position and use of resources within its environment. When used in
business the term implies a situation or an activity perfectly suited to a person or a given type
of personality. This concept has been extended from persons to products on the market.
Whereas a niche in the strict sense can be a working position or an area suited to a person
who occupies it, the market niche is perfectly suited for a product of human labour.
Niche marketing is the process of finding and serving profitable market segments
and designing custom-made products or services for them. For big companies those market
segments are often too small in order to serve them profitably as these market segments often
lack economies of scale. Niche marketers are often reliant on the loyalty business model to
maintain a profitable volume of sales.
An often used technique for affiliate marketers. By seeking out smaller segments
of larger markets, a website can be developed and promoted quickly to uniquely serve a
targeted and usually loyal customer base, giving the affiliate a small but regular income
stream. This technique is then repeated across several other niche websites until a desired
income level is achieved.
Marketing Mix
The Marketing Mix. is a term used to describe the combination of tactics used
by a business to achieve its objectives by marketing its products or services effectively to a
particular target customer group. It is also referred to as the .4 Ps. . Product, Price, Promotion
and Place, or the .7 Ps. . the 4 Ps with the addition of People, Process and Physical Evidence.
33
Why it is important?
For example, if you manufacture pens, and have decided to target schoolchildren, it would be
more appropriate to market .
_ Coloured ballpoint pens (product)
_ At a low price (price)
_ Selling them through newsagents and stationers (place)
_ And promoting them through point of sale material (promotion) than it would be to market .
_ Gold fountain pens (product)
_ At a high price, including insurance against loss (price)
_ Selling them through specialist outlets and jewellery stores (place)
_ And promoting them in glossy magazines and Sunday Supplements (promotion)
Make sure you have identified each of your target customer groups. If you have not
already done so and would like further information on grouping your customers, take a look
at our 10-minute Target Customer briefing. Now, with each customer group in mind, work
through the steps outlined below.
34
Product
3. Have a system for collecting and analysing feedback from your customers so that ideas are
fed into a new product development process that is ongoing.
35
4. Ask yourself what stage of the product life cycle your products or services have reached.
The .product life cycle. is one way of looking at how the marketing mix links together.
Products are said to go through stages . an introductory stage, a growth stage, a mature stage
and a decline stage. At each stage a slightly different mix is appropriate .
5. Analyse the profitability of each product/service you offer. For more information on
calculating this, take a look at the 10-minute 80/20 Rule. Which products/services make the
biggest contribution or provide the highest profitability? What support services do you offer
with each
product? Could it be improved, adding value with little cost?
Place
Place is the means of distribution you select depending on the type of product or service you
are marketing.
Your choice will impact on your pricing and your promotion decisions.
1. Are the customers for your products and services consumers or businesses? If they are
consumers you will have three main options .
36
_ Selling to wholesalers who will sell to retail outlets who will sell on to the consumer
_ Selling direct to retail outlets
_ Selling direct to the customer
If your customers are businesses you will probably sell to them direct through your own sales
force.
2. If you sell through wholesalers and retailers, remember when you price your products that
they will each want their own mark-up to cover their overheads. You will also need to
promote your products and services to all members of the channel. Wholesalers and retailers
will have to be persuaded to stock your product and end customers to buy them.
3. If you are selling to businesses you will have to cover the cost of a sales force. This can be
an expensive overhead and will again impact on your pricing.
Price
Price generates profit so is an important element of the mix. You need to consider -
1. What your target group of customers will be prepared to pay for your product or service. It
is
important not to set the price too low as customers may think there is something wrong with
the product. Equally, if you set the price too high, customers may think that it is too
expensive for the benefits offered. Think about how you have positioned. your product in
terms of quality. This will help you to assess how to price it.
2. What it costs you to produce it. This will show you what you need to charge and not what
you could or should charge. However, if you do not calculate what it costs you to produce
your product correctly, the more you sell, the more you will lose. Don.t forget to make an
allocation for costs such as selling which are usually treated as fixed.
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3. What your competitors charge. Look at your competitors. web sites, or simply phone them
and ask for a price list or quotation.
Promotion
The combination of tools you use depends on the budget you make available,
the message you wish to communicate and the group of customers you are targeting. To find
out more about developing a promotional mix as part of your wider marketing mix, take a
look at the 10-minute
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KALORIE ONE
KALORIE ONE
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5.
REASEARCH
METHODOLOGY
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Research Methodology:
Research is common parlance refers to a search for knowledge. Research can define as a
scientific and systematic research on a specific topic. In fact, research is an art of scientific
investigation. The dictionary meaning of research is as "a careful investigation or inquiry
especially through search for the new facts in any branch of knowledge. Some consider
research as movement, a movement from known to unknown. Research may be defined as a
systematic and objective analysis and recording of controlled observations that may lead to
the development of generalization of principles or theories resulting in prediction and
possibly ultimate control of events.
1.Research objectives
2.Research Methodology
3.Limitations.
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•To study existing marketing strategies of company.
•To study the promotional of product among field force and distribution channels.
•To observe product and improvement (if needed) to meet a changing market need or
customer's taste.
•To study the sales ranking of the various products of Companies as per ORG IMS.
•To check the potentiality of the doctors.
The study is related with District. In the project work there is enumerate the customer
behavior and the market scenario of the pharmaceutical products and also the factors the
marketing of the pharmaceuticals.
Research Design is type of blueprint prepared depending on various types of blue prints
available for the collection, measurement, and analysis of data. Research Design calls for
developing the most efficient plan of gathering the needed information. The design of the a
research study is based on the purpose of the study.
A Research Design IS the specification of method and procedure for acquiring the
information needed. It is over all operation pattern or framework of the project that Stimulate
what information is to be collected from which source by what procedures research purpose
may be categories into four categories as.
i) Exploration
ii) Descriptive
iii) Diagnosis
iv) Experimentation
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A flexible research design provides opportunity for considering many different aspects of a
problem considering appropriate. The purpose of the research study is of the Descriptive type
i.e. the complete random selection of the sample from the universe.
Descriptive study can be done with help of quantitative research. If descriptive information is
needed then a quantitative study is likely to the needed. The choice of data collection
techniques for this study includes. Descriptive study is likely can be done with help of
quantitative research.
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Quantitative Research Design:
•Observation
•Experimentation
•Survey
The Research Methodology adopted III the project IS purposive where information collected
& utilized to study the marketing strategy adopted by Mankind Pharma. The Research
Methodology adopted include following steps.
a)Sampling.
b)Data collection.
c)Analysis & conclusion of data.
3Ea Sampling:
Sampling is a tool, which helps to know the characteristic of the universe of population by
examine only a small part of it. the sampling done in this project is deliberate sampling where
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Nagpur market selected deliberately to check the effective launching of the medicinal product
and the Response to the product after launching. An integral component of a research design
is the sampling plan specifically, it address two questions.
The study of the entire universe will be impossible on the account of limitation of time and
money. Hence sampling becomes inevitable. A sample is only a portion of the universe of
population. According to YULE, a famous statistician "the object of sampling is to get
maximum information about the parent population with minimum effort." properly done
sampling produce representative data of the entire population.
Collection of data is the first step in statistic the data collection process follows the
formulation of research design including the sample plan, data, which can be secondary or
primary, can be collected using variety of tools. Once the research has been designed, the
next step is selection of the source of the data.
Primary source of the data refer to the data collected directly from the market place, traders.
The data collected from the primary source is most reliable and helps to overcome the
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limitation of the secondary data. Primary data involves direct collection of the data by direct
interaction.
It includes the information collected from the secondary source i.e. from already available
data. It includes information collected from the printed journals, published reports, news
item, sales report etc. Secondary data has been obtained through the various sources are as,
* Technical and trade journals, books, magazines and newspapers, report and
publication of various associations connected with business and industry, banks,
stock exchange; etc.
3 F] Limitations:
1)Any statistical technique employed has some inherent assumption, which mayor may not
distort the references.
2)Analysis is made on the information provided by the Retailer and Doctors, & Medical
representative
3)Doctors were unable to give the exact preferred product as there is a different medicine for
the different diseases and it varies patient to patient
4)it is difficult to give the exact reason of low of particular product because it is
simultaneously depends upon quality, price as well as on seasonal or atmospheric conditions.
5)The market research area is limited to Nagpur District only.
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6.
DATA ANALYSIS
AND
INTERPRETATION
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Data Analysis & Data Interpretation:
After studying Marketing strategy of Mankind Pharma survey was conducted, in the first
phase of survey the total number of doctors and their category was determined. the finding of
surveys is as follows.
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Analysis:
From the above graph it shows that the G.P. Doctors having major
involvement in the categorisation of the doctors. The survey was limited to sample
size 100 doctors only.
Chart -2
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GP PAED CARDO GYNC OTHER
40% 20% 10% 25% 5%
Analysis:
In the prescription generation by Dr’s per day, the G.P. generated more
prescriptions per day as he treats all types of patients than the other specialist
person.
Chart-3
In this part of survey, how the Doctors get introduced to the product
was determined.
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Source of MR Drug index ADV Other
introduction Book source
%(perc.) 75% 10% 10% 5%
Analysis:
Chart-4
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Brand Name Generic Name Contents
90% 3% 7%
Analysis
In this graph it is cleared that majority of doctors prescribed the product by
Brand Name.
Chemist Survey
Chart-l
Chemist survey was conducted to determine the influence of the chemist buying behavior of
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the product and the influence of the company's strategy on the chemist buying behavior. In
this survey, how chemist gets aware of the medicinal product was determined. The finding of
the survey is expressed in the above pie-chart.
Analysis:
From the pie chart it is clear that most of the Chemist get aware of the product through
Medical Representative appointed by the company.
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Analysis:
From the Pie-chart it is clear that, chemist like to keep product, which is
prescribed by the Doctors.
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7.
RECOMMENDATION
OF
THE STUDY
RECOMMENDATIONS
•Apart from providing literature and magazines and gift to the doctor, a meeting of the doctor
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with the company's management personnel's & should organized Conference or special
meeting with particular doctors where modem and new technique of the drug, mode of action
of the drug, therapeutic use of the drug, dose of the drug, and side effect of the drug can be
explained.
•Optimizing the condition of medical check up and health check up champ should be
organized by the company to promote there medicines through the doctor. This is the best
way to promote a company's medicines and build good relation with the doctors. Also
arranging the Blood Sugar camp and other to introduced the chronic segment product in the
consultants chamber.
•In literature and pamphlets use of drugs, dose, contents and contraindication should mention
these are distributed to the doctor as well as the chemist. Free treatment and information
should be provided when new drug launch in to the market it is use for availability of the
product in market as well as to extend the sale of the product.
•Company may arrange the industrial tour for some special doctors to show the company &
also the manufacturing units to make up companies image in the doctors mind if there any
confusion regarding product quality.
•Some time chemist complained regarding expired medicine, medical representative must ask
to chemist in every visit about expiry & near expiry product and company also make some
arrangement for the same. Regular follow up to the Doctor from Medical Representative is
very necessary to extends and maintain the sales of the medicines continuously.
•When company launch a new drug then company must provided a reference book to the
Doctor is necessary. Sampling of the product should be specific and proper way to the doctor
is necessary.
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8.
CONCLUSION
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Conclusion.
After the detail analysis of primary and secondary data following conclusions are
drawn:-
• Company Reputation
• Contents of Product
• Quality of Product
• Price of Product
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Mankind provides the world class ALU-ALU packing that kept the medicine
very safe and having no effect on the medicines by the external atmosphere.
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9.
BIBLIOGRAPHY
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BIBLIOGRAPHY
Website Name
I
HRL
www.mankindpharma.com
www.pharmabiz.com
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10.
ANNEXURE
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Questionnaire
Dear Respondent.
I am Pratik Ramkishor Jaiswal the researcher of this project studying in BBA III year
DAIMSR Nagpur. For fulfillment of my Degree of Bachelor Business Administration I have
take "Niche Marketing Policies Adopted By Mankind Pharma Specially in Nagpur
Region".
Specialization in Marketing Particular study in "Nagpur Region". As you are the people of
Medical Fraternity, you are more knowledgeable than common people in this field, for that I
need very seconds along with your valuable opinion on the above Questionnaire. (Tick
appropriate option of your choice Or please write in other specifically on your mark) I
promise your information remain confidential and use only for my project purpose.
Thanking you
Yours Faithfully
Researcher
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Questioner involve in to two categories
Dr. Name:-
Dr. Address:-
Ph No.:-
•Through MR
•Through Advertisement
•Through index book
•Other source
2)How do you remember the brand names of medicines, as then are so many players in
market?
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4) What do you do when chemist substitute your prescribed medicines?
•Very Important
•Important
•Average
•Not much
What are the parameters you consider III medicines before prescribing?
•Company's reputations
•Relation with MR
•Quality of products
•Availability of the products
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Questionnaire for Chemist
Chemist Name :-
Chemist Address :-
Ph No :-
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